Scarcity

21 07 2008

By Teasome

I am rejoicing at the oil price growth. No, wrong guess, it’s not because I’m Russian. It is because the markets are finally starting to show the real price for depletable resources. I don’t believe it’s a bubble. I believe that it is finally starting to make it clear that our life-style is unsustatinable! Markets are working! The problem is, as always with markets, that they are imperfect, and that they have started working too late. Don’t fret! I say. better late than never!!!!

On the serious side. I found this wonderful article by Dosi, Grazzi: Energy, Development and Environment. They are talking about limits to growth debate of 1972. So THEY say (mind you, it’s not my wishful thinking, I’m quoting):

The higher the price for fossil fuels, the better it is in the long run for the world economy as for humankind in general.

Tadaa!

To the same piggy-bank:

Unsustainability is looming not for the reasons of scarcity… but… for lack of scarcity – at least with respect to energy availability and consumption.

One more, I LOVE the phrasing:

The proposition that ‘growth takes care of itself’ in terms of the environmental consequences is ANALYTICALLY LARGELY UNGROUNDED and NORMATIVELY RECKLESS [capitalisaion mine].

And a stone into World Bank’s allotment (as we say in Russia):

The Environmental Kuznets Curve (EKC) posits an inverted-U relationship between pollution and economic developments. Different versions of the EKC [are]characterized by different degrees of optimism… Their most optimistic interpretations have been popularized, not too surprisingly, by the World Bank’s World Development Report 1992 which argued that:

The view that greater economic activity inevitably hurts the environment is based on static assumptions about technology, tastes and environmental investment (IBRD [1992], p. 38).

[Big satisfied smile]

Only none of this makes it clear what I should research as my PhD [howling sounds].

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